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Agreement has now been reached for BAM subsidiary Heilijgers to be sold to its management.

Royal BAM Group had announced the proposed management buy-out last month. Construction and properties subsidiary Heilijgers has over 100 employees and brought in revenues of €40m (£34m) last year.

The decision to transfer the company to its present management is part of BAM’s strategy ‘Building the presence, creating the future’. One aspect of the strategy relates to shaping the business portfolio, including exiting activities that are not seen as offering sufficient opportunities to build the business through scale or differentiation. The management buyout will offer Heilijgers opportunities for further growth, said BAM.